As our parent’s age, it’s going to become a constant struggle to respect independence and autonomy that they want while making sure you’re taking care of all the steps in keeping them protected. It is a phase in our lives wherein difficult decisions have to be made by the family together. A decision that is very important for families with aging parents is a (POA) power of attorney.
A POA is a legal document that is popular in UAE as it provides a tool for a person to assign another individual in acting on his or her behalf like a representative. The representative in a POA is called as the agent and can carry out health, financial and business decisions of the principal or grantor of authority.
It is among the list of important documents that a senior has to have in order; however, it is one that involves the discussion with the entire family. This is especially true for big families with many siblings to be considered as the agent for the principal which is a parent.
Fortunately, there are experts that can help with the power of attorney drafting in UAE. The notarization for power of attorney is also simple. A notary public in Dubai can help your family save a lot of resources and even trouble in the future. It is an important aspect any family should take into consideration soon rather than later as a power of attorney in UAE can only be created if the parent or principal is of sound mind and in good health.
Reasons Why Senior Family Member Should Consider Having a POA
As mentioned earlier, a power of attorney provides a family member or trusted person the ability in stepping in and making decisions that need to be made during moments wherein a senior member either can’t perform them or wouldn’t rather have to.
There are a couple of scenarios wherein it is very convenient for a senior member to have a POA ready and legalized in UAE and others where it is critical.
Some of the scenarios include the following:
- When a person has a surgery or treatment scheduled and wishes to know another person is entrusted in being in charge during a treatment and while also he or she is recovering.
- When a person wants to make sure that all medical and financial or business decisions and obligations are covered in the event of a tragedy or if when a person becomes too ill in managing his or her affairs.
- If a person is traveling during retirement and wishes to have someone trustworthy in taking care of his or her responsibilities back home.
- When a person has dementia or Alzheimer’s diagnosis and wishes to have loved ones taking over medical, legal, and financial decisions when the time arrives when he or she is incapable mentally in doing so.
In short, whenever there is any reason for a person to benefit from another person having legal capability or status in helping make important decisions as well as managing responsibilities, setting up a POA and undergoing power of attorney notarization in UAE will be helpful.
Are there Different kinds of (POA) Power of Attorney?
There are a couple of different kinds of POAs which you should know in order to ensure that your family member’s bases are fully covered.
- Durable Power of Attorney – this power of attorney becomes effective when it is signed by the principal. A durable POA is also referred to as a lasting POA and it will stay in effect until the person that assigned authority passes away or makes a move in canceling it. An aging parent that has significant health issues has to have a lasting or durable POA in place. If the POA is not durable, then the legal document can lose its power when the parent becomes unable to carry out his or her own decisions.
- Financial Power of Attorney – this power of attorney allows someone to possess legal authority in handling all or a part of the financial affairs of a principal. This can include simple and straightforward tasks such as paying the bills of the principal and accessing bank accounts. Most seniors want agents to have broad powers when a power of attorney is created so they are sure that financial responsibilities and assets are taken care of when they have lost ability in managing them.
- Medical or Healthcare Power of Attorney – as its name suggests, it is created in order for someone to have power or authority in creating decisions for a principal that is related to healthcare or medical. The agent has to make decisions that are of the best interests of the principal health-wise.
Contact us here in Notary Public Dubai for more information!